Financial Bids Opened for Green Hydrogen Incentives in India
Key Ideas
- Financial bids for green hydrogen incentives in India's SIGHT scheme were opened with companies like L&T Energy and Reliance Green Hydrogen emerging as lowest bidders.
- The National Green Hydrogen Mission in India allocated INR 5,400 crore for establishing 450,000 tonnes per year green hydrogen manufacturing capacities.
- Winners were chosen based on the least incentive demanded, with a tiered approach to awarding financial support for green hydrogen production.
- The SIGHT programme, part of India's green hydrogen mission, aims to promote technology-agnostic and biomass-based green hydrogen production.
Financial bids for incentives under the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme in India were opened, with companies like L&T Energy, Reliance Green Hydrogen, and others emerging as lowest bidders. The Ministry of New and Renewable Energy invited bids to establish 450,000 tonnes per year green hydrogen manufacturing capacities with a total allocated incentive of INR 5,400 crore. Among the 14 bidding companies, 10 secured incentives based on the least incentive demanded. The winners were selected using a bucket-filling approach where the lowest bidder was awarded financial support and capacity first. The SIGHT programme is part of India's National Green Hydrogen Mission, which focuses on promoting technology-agnostic and biomass-based green hydrogen production to reduce carbon emissions and advance renewable energy sources.